I do generally agree with the sentiment of Austin and the other hosts that fundamentals will always win out in the long run, and this by nature is a long term industry, even the sales side I'm learning.  

It's hard to say post Helene what the sentiment will be. 

With mortgage rates close to 7% and generally soft homebuying sentiment, strength in existing home sales is unlikely to be sustained," said Alice Zheng, an economist at Citigroup.

"I think it's a sentimental thing."

So regardless of "sentiment" towards out-of-state investors you may have received from your work colleague its incorrect. 

I would think their loan documents give them the right to control the property after the original owner dies - regardless of who is living there (although I have no direct knowledge of the laws where you live).There are details we don't know here... like if you want the house for sentimental reasons, or because you see the value between what it's worth on the market today and what the reverse mortgage company wants for it?  

If there are items of value left behind, or even personal items of sentimental value, I will follow the abandonment rules to a "T" to avoid any legal issues.

From working with an S8 specific contractor the sentiment was that many people don't want to work on distressed properties, as they can work in nicer areas and charge more money.

There is some sentimental value I need to be wary of based on the inheritance, but it is a very nice home on a very nice lot, and it would be nice to own another rental in this area.     

For me - my two cents are no amount of innovation can replace sound underwriting and valuation practices.Curious to others thoughtsOn the surface I agree with your sentiment.